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Cryptocurrency named after Elon Musk’s dog surges 2,400 percent


Followers of Elon Musk designed a cryptocurrency named just after his dog — and it is up 2,400 %. 

Flokinomics, a dogecoin knockoff that commenced investing on Sunday, was heading for $.000002254 early Wednesday, in accordance to CoinMarketCap knowledge. Although that may not seem like a good deal, it is a 2,400 p.c enhance in benefit about the previous 24 hrs.

“WE $FLOKIN DID IT,” declared a Twitter account for the cryptocurrency. 

Flokinomics is named immediately after Elon Musk’s canine, Floki. 

Floki is a Shiba Inu — the same type of puppy that serves as the mascot for dogecoin, the “meme” cryptocurrency that Elon Musk famously promoted earlier this 12 months. 

A cryptocurrency named right after Elon Musk’s dog is up 2,400 per cent.dpa/photo alliance by using Getty I

Amid hype from Musk, dogecoin surged from $.06 at the beginning of April to a peak of $.74 in May perhaps. The coin then plummeted just after Musk joked about it on Saturday Evening Live and is now trading at about $.26. 

Elon Musk's dog
The coin is named immediately after Elon Musk’s pet, Floki.
Elon Musk Twitter

The Tesla CEO has also promoted yet another Shiba Inu-themed coin, Toddler Doge. In July, Musk tweeted about the coin and its price tag far more than doubled. 

Musk has not spoken publicly about Flokinomics — but that is not halting creators and enthusiasts of the cryptocurrency from angling for a shoutout from the mogul, which would inevitably deliver its cost soaring.

“Named soon after elons puppy so a single tweet from elon and we will moon so damn difficult!!!” wrote a single consumer on the Flokinomics Reddit discussion board.

“Awesome… Producing a ton off this!!” wrote a further.

Critics say that Musk’s practice of arbitrarily sending cryptocurrencies flying presents a hazard to buyers.


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